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NELFUND ₦15.8 Million Disbursement: How 198 Students Are Benefiting from Student Loans in Nigeria

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At NELFUND, our mission is to bridge the educational financing gap and ensure that every qualified student has the opportunity to pursue his or her academic goals without the burden of prohibitive tuition costs. Today, we are proud to announce the ₦15,866,000.00 disbursement to 198 University of Calabar students—a major milestone in our ongoing efforts to support higher education in Nigeria.

Why NELFUND Student Loans Matter

• Affordable Student Loans: NELFUND student loan products are designed to provide low-interest, long-term financing options that ease the financial burden on students and families across Nigeria.

• Education Financing: By offering targeted education financing solutions, NELFUND ensures that cost is never a barrier to quality tertiary education.

• Student Empowerment: Access to NELFUND student loans empowers students to focus on academic success rather than worrying about tuition fees, books, and other essential educational expenses.

• National Impact: Our student loan disbursements not only benefit individual students but also contribute to the broader development of Nigeria’s workforce and strengthen our nation’s intellectual capital.

The University of Calabar: A Hub for Academic Excellence

The University of Calabar, situated in Calabar, Cross River State, stands as one of Nigeria’s foremost federal universities. Known for its robust academic programs, vibrant student community, and commitment to research and innovation, the University of Calabar is the ideal partner for NELFUND’s mission to expand access to higher education.

• Location: Calabar, Cross River State, Nigeria

• Institution Type: Federal University

• Student Population: Over 30,000 undergraduates and postgraduates

• Academic Strengths: Sciences, Engineering, Social Sciences, Arts, and Management Studies

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By collaborating with the University of Calabar, NELFUND reinforces its pledge to support institutions that demonstrate excellence in academic delivery and student welfare.

Disbursement Details: ₦15,866,000.00 to 198 Students

• Total Amount Disbursed: ₦15,866,000.00

• Number of Beneficiaries: 198 students

• Average Loan per Student: ₦80,131.31

• Disbursement Period: Q2 2025

This disbursement covers tuition fees, accommodation costs, books, and other essential educational expenses. With an average of ₦80,131.31 per student, recipients can confidently register for their courses, secure accommodation, purchase textbooks, and focus wholly on their studies.

Student Loan Application and Approval Process

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At NELFUND, we have streamlined our student loan application and approval process to ensure accessibility and efficiency:

1. Online Application: Students complete a simple online application form on the NELFUND portal, providing academic and financial information.

2. Eligibility Assessment: NELFUND evaluates applicants based on academic merit, financial need, and university enrollment status.

3. Loan Approval: Eligible applicants receive approval letters specifying loan amounts, repayment terms, and conditions.

4. Disbursement: Approved funds are disbursed directly to the University of Calabar’s bursary and/or the student’s verified bank account.

5. Repayment: Graduates are provided with flexible repayment plans, low-interest rates, and generous moratorium periods to begin repayment only after securing employment.

Impact of NELFUND Student Loans on University of Calabar Students

The ₦15,866,000.00 disbursement to University of Calabar students will catalyze positive change and deliver tangible benefits:

• Increased Enrollment: Expanded access to student loans will encourage more qualified students to enroll in tertiary education programs.

• Improved Academic Performance: Financial peace of mind enables students to dedicate more time to coursework, research, and extracurricular activities.

• Enhanced Student Welfare: By covering living expenses and study materials, NELFUND student loans contribute to overall student well‑being.

• Long-Term Societal Benefits: Educated graduates are better positioned to drive economic growth, foster innovation, and contribute to national development.

Testimonials from Beneficiaries

“Receiving the NELFUND student loan has taken a huge weight off my shoulders. I can now focus on my Chemical Engineering studies at the University of Calabar without worrying about tuition fees.”
— Ifeanyi N., 200-Level, Department of Chemical Engineering

“Thanks to NELFUND, I could afford my textbooks and accommodation for this semester. It’s a huge relief!”
— Chiamaka O., 300-Level, Department of Economics